Crypto lending business booms amidst bear market

posted 20 days ago
The niche market of crypto lending is currently booming despite the bear market. Crypto lenders such as Genesis Capital are raking in profits, growing, and even adding more employees during the current year-long bear market.

Michael Moro, chief executive officer of Genesis Capital said “We’ve been profitable from day one… We’ve certainly proven that there is market demand, that there’s product fit and that it’s time to invest even more in this side of the business,” Moro elaborated. Genesis Capital lends crypto to institutional investors at varying rates. Genesis launched in March of 2018 and in just 9 months has already issued $700 million in loans, with $140 million currently outstanding.
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